Computation of Termination Values
SEC-BED Memorandum Circular No. 06-88 • Securities and Exchange Commission Departments • Markets and Securities Regulation Department (MSRD) • May 20, 1988
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May 20, 1988 SEC-BED * MEMORANDUM CIRCULAR NO. 06-88 TO : All Pre-Need Plan Issuers RE : Computation of Termination Values The Commission hereby mandates that Section 21 of the New Rules on the Registration and Sale of Pre-need Plans and Similar Contracts and Investments affecting termination values shall be interpreted as follows: The planholder shall be entitled to the termination values corresponding to his payments as follows: Payment Received Termination Value Less than 20% of plan value 0% of total payments 20% or over but not exceeding 40% of plan value 20% of total payments 40% or over but not exceeding 60% of plan value 30% of total payments 60% or over but not exceeding 80% of plan value 40% of total payments 80% or over 50% of total payments For your strict compliance. LexLib (SGD.) ROSARIO N. LOPEZ Associate Commissioner
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